The US labour market extends the dollar rally

By GG Analyst in Reviews 0 Comment

EUR/USD

Employment growth in the USA went beyond expectations in June and, as a result, caused a new tide of USD purchases. According to the released data, it grew by 195K, moreover, the growth rate in the previous month was revised up to the same figure (from 175K). April’s rate was raised even higher – to 199K. Thus, the report and accompanying revision painted a picture of a bit more vigorous growth in the labour market. It was enough for the attack on the dollar to continue and bring EURUSD to 1.28, where the trade stabilized. Now the trading range is still more…

Dollar bulls attack key levels

By GG Analyst in Reviews 0 Comment

EUR/USD

Turning back to Monday’s opposition of technical and fundamental signals, we can see that the former is winning (at least now). The US dollar continues the attack. EURUSD again dipped below 1.30 yesterday. Now it is trading at 1.2970, which is close to the lows of early June. The bears showed an impressive performance yesterday near the 200-day MA (1.3070). This was provoked by an article in Reuters, which said that the troika was again displeased with Greece’s progress on the way to budget consolidation and that the country got an ultimatum within three days to agree to the afore-discussed terms more…

Technical vs fundamental analysis

By GG Analyst in Reviews 0 Comment

EUR/USD

The bears keep the market under vigilant control. The attempts of the single currency to recover and get above 1.31 have failed. This level is the start of Friday’s selling, which eventually brought EURUSD to 1.2990. Then, the second fall below the 200-day MA is also of big importance and is likely to increase the camp of bears. Those, who staked for growth, can be happy that the month and quarter were closed above 1.30. Yet, the main fight for the levels and trends for the coming weeks will take place only closer to the end of this trading week. On more…

The Fed tries to adjust market expectations

By GG Analyst in Reviews 0 Comment

EUR/USD

FOMC’s officials claim now that the markets misinterpreted Bernanke’s words at the press-conference a week ago. Yesterday Lockhart (doesn’t vote this year) said that market participants misunderstood the intention of the Fed’s head and that he would be watching closely the negative consequences for the debt market. Besides, William Dudley noted that the market reaction goes counter to the Fed’s statements and expectations of the majority of FOMC’s members.  Powell spoke in much the same vein. The massive pressure from these four officials eventually has produced its effect. Government bond yields have slightly decreased in comparison with the trend observed for more…

Close to free fall

By GG Analyst in Reviews 0 Comment

EUR/USD

USD is still on the offensive, with the active phases of its growth falling on the EU and US sessions. On Friday evening the euro was falling under its own weight, triggering a wave of stop-orders. As a result, on Friday instead of the traditional consolidation we saw the biggest drop over the week. This week started with a downward gap below 1.31.  If technical analysis is true, the descent will continue with the next probable stop at 1.3000/10. However, bears shouldn’t hurry with staking for decline as close to 1.3070 there is the 200-day MA, which can turn out to more…